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was it, 1982 or 1983, back in the 1980's, tip o'neill and ronald reagan got together and made adjustments to social security that saved the program. that's my point. sometimes you need to adjust and change to save the very thing you care most about. and so tip o'neill didn't sell out the democratic party by embracing that agreement. the democrats in congress, many of them very progressive at that time who supported it, didn't work traders to the party. if we do it in a responsible way, a balanced and doesn't just gut the programs and just not all entitlement reform with no revenue, i think the base of the party and leaders and organized labor will understand. they also know the alternative is doing nothing, with bad damage to jobs and the economy. and ultimately insolvency of these programs themselves, or. b, the right wing of the republicans are coming in and taking over because we have done nothing to solve the problem and their answer to the solution would be much more draconian. host: jack. he's our first phone call for the senator. republican. go ahead. caller: mr. bayh, one question
lines, stagflation. in 1980, a different president got elected. ronald reagan, like barack obama, inherited a struggling economy. ronald reagan implemented policies 180 degrees opposite of barack obama. instead of checking up taxes, he cut taxes. instead of exploding spending and the death, he restrained growth and spending. instead of -- debt, he restrained growth and spending. instead of releasing the hounds of regulators on small businesses and rescue -- entrepreneurs, reagan limited regulation. the result was one of the strongest person of economic activity our nation has ever seen. the fourth year of reagan's presidency was 1984, precisely corresponding to right now in obama's presidency. does anyone know what gdp was then? 7.2%. our ideas work. their ideas do not. if you want the 23 million people struggling finding work to get jobs, the answer is simple. you need growth. to get growth, you have got to reduce and simplify the tax burden, reduce regulations, and unchain small businesses and entrepreneurs. over six -- over 50% of americans who voted on election day believed t
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